100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB5028

 

Introduced , by Rep. Charles Meier

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 450/2-75
30 ILCS 105/5.886 new

    Amends the Illinois Hydraulic Fracturing Tax Act. Provides that 50% of the moneys received under the Act shall be paid into the General Revenue Fund and 50% of the moneys received under the Act shall be paid into the Pension Relief Fund (currently, all of the moneys are paid into the General Revenue Fund). Provides that moneys in the Pension Relief Fund shall be used to make employer contributions required under certain provisions of the Illinois Pension Code. Amends the State Finance Act to make conforming changes.


LRB100 19323 HLH 34589 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5028LRB100 19323 HLH 34589 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Hydraulic Fracturing Tax Act is
5amended by changing Section 2-75 as follows:
 
6    (35 ILCS 450/2-75)
7    Sec. 2-75. Distribution of proceeds. Fifty percent of the
8All moneys received by the Department under this Act shall be
9paid into the General Revenue Fund in the State treasury and
1050% of the moneys received by the Department under this Act
11shall be paid into the Pension Relief Fund, a special fund
12created in the State treasury. Moneys in the Pension Relief
13Fund shall be used to make employer contributions required
14under Sections 14-131, 15-155, and 16-158 of the Illinois
15Pension Code.
16(Source: P.A. 98-22, eff. 6-17-13.)
 
17    Section 10. The State Finance Act is amended by adding
18Section 5.886 as follows:
 
19    (30 ILCS 105/5.886 new)
20    Sec. 5.886. The Pension Relief Fund.